Nigeria’s Aella Credit raises $10mln expansion fund
Monday, 10 February 2020 14:39
Nigeria-based FinTech startup Aella Credit has mobilized $10 million from HQ Financial Group, a Singaporean private company specializing in blockchain financial investments, to finance its expansion across West Africa.
Aella wants to develop new financial solutions and create a credit platform that will work with blockchain. “We are building a one-stop app for all transactions partnered with regulated industry leaders to help distribute products faster, better and cheaper to end-users in Nigeria and across the markets we plan to launch. This app will allow users to access multiple financial services at low costs compared to what is currently available in the market,” said Akin Jones (pictured, right), co-founder of Aella.
The company said it has increased customer base by 674% and turnover by 193% over the past two years. Also, it has granted more than 300,000 loans since its inception in 2015. The second co-founder of the group is Akanbi Wale (pictured, left).
Chamberline Moko
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